"Buffett had revealed that he paid $6,938,744 in federal taxes last year, or 17.4% of his taxable income. He has said that rate is too low.
Buffett's letter to Huelskamp specified that his adjusted gross income — which excludes some types of income and expenses — was $62,855,038. His taxable income — which subtracts exemptions and itemized deductions — was $39,814,784."
Seems like a lot of deductions to me. Looks like his gross tax rate is closer to 10% LOL Tax the Rich! SOBs!
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
I am surprised more CEO's don't do like Buffett and keep their pay low at 100K and load up their compensation with stock options and other pre taxable benefits like golden health insurance, housing and automotive allowances, etc like Euro CEO's do.
I also don't see why professional athletes let their yearly contracts be announced. How many baseball owners are stupid enough to publicly announce what they make every year? In this current enviroment of wealth envy, the more compensation you can hide the better.
Thomas Sowell: There are no solutions, just trade-offs.
